The growth in total sales was primarily driven by robust demand from key urban and rural areas, particularly in the 100cc and 125cc segment during the festive period.
The company’s motorcycles sales increased 20.11% to 6,35,787 units, while scooters sales declined 5.01% to 43,304 units in October 2024 over October 2023.
During the period under review, sales of motorcycles and scooters in the domestic market aggregated to 657,403 units (up 17.44% YoY) while exports of the same was at 21,688 units (up 43.02% YoY).
The company’s electric vehicle brand, VIDA, continued to have a strong growth trajectory this year and achieved its highest-ever monthly dispatches, reaching 8,750 units in October 2024.
Hero MotoCorp is engaged in the manufacturing and selling of motorised two-wheelers, spare parts and related services. The company is a leading two wheeler manufacturer and has a dominant presence in domestic market.
The company’s consolidated net profit jumped 26.29% to Rs 1,045.89 crore on 15.4% increase in revenue from operations to Rs 10,210.79 crore in Q2 FY25 over Q2 FY24.
The scrip rose 0.59% to end at Rs 5,019.50 on Friday, 1 November 2024.